The House Committee on Oversight and Government Reform, the main investigative committee in the US House of Representatives, has overwhelmingly passed two bipartisan bills to overhaul the US Postal Service (USPS).
The Postal Service Reform Act, which was co-sponsored by chairman Jason Chaffetz (Republican), ranking member Elijah E Cummings (Democrat), and representatives Mark Meadows (Republican), Stephen F Lynch (Democrat) and Gerry Connolly (Democrat), aims to enhance revenue, improve efficiency, integrate Medicare, and streamline governance and oversight of USPS.
The Postal Service Financial Improvement Act of 2016, which was co-sponsored by representatives Lynch and David McKinley (Republican), would authorize the secretary of the treasury to invest a limited amount of the Retiree Health Benefits Fund in market-based index funds, and establish a Postal Service Retiree Health Benefits Fund Investment Committee to help advise on investments made from the fund.
Chaffetz said, “This bill reflects how working in a bipartisan, collaborative manner can bring about much needed reform. The outlook for the postal service is grim without the improvements contained in this bill. I hope the legislation sees quick action by the full House of Representatives so the postal service can be one step closer to a viable, solvent future.”
Cummings said, “This bill is the product of intense negotiations that have been ongoing for months, and it is the culmination of broader efforts that have been underway for years. I’m pleased that my colleagues and I were able to craft a bipartisan bill we can all support that will place the postal service on sustainable financial footing.”
July 13, 2016